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first_img FASB seeks public comment on the classification of stablecoins and other digital assets as cash equivalents

On August 18, 2026, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) aimed at clarifying how the current definition of "cash equivalents" applies to certain digital assets, such as stablecoins, and enhancing the transparency of disclosures regarding important components of cash equivalents. Stakeholders are encouraged to submit comments by November 19, 2026.In the 2025 FASB agenda consultation project and other feedback, stakeholders pointed out that there is uncertainty regarding whether certain digital assets, including stablecoins, meet the definition of cash equivalents under current Generally Accepted Accounting Principles (GAAP), leading to differences in practical treatment. The proposed ASU will provide illustrative examples to promote a more consistent application of this definition and enhance comparability among entities choosing to report qualifying digital assets as cash equivalents, but it will not change the current definition of "cash equivalents."At the same time, the proposed rules require all entities reporting assets as cash equivalents, regardless of whether they include digital assets, to enhance disclosures regarding the important components of cash equivalents and related amounts, so that investors and other financial statement users can obtain more transparent information. The relevant proposed ASU and methods for submitting comments can be found on the FASB website.

The giant whale "sets 10 major goals": BTC is expected to fluctuate upwards this round, possibly rising to $100,000 by March next year

The whale "Set 10 Big Goals First" posted on the X platform, stating that it has opened a short position again at $76,000. The logic is quite simple: "When I established a long position around $63,000, the target was originally $74,000. I believe the bull market has returned, and this judgment has not changed until now. However, I have always believed that this round should be a volatile upward trend. At least currently, from a macro and market structure perspective, I have not seen enough signals to support this trend."Currently, most of the short positions have been reduced. "Not because I have changed my judgment, but to control risk first. If there is a continued extreme upward pull here, $82,000 and $84,000 are both possible, so there is no need to take a full position to bet that my judgment is definitely correct.If the daily line effectively closes above $80,500, then I will admit my mistake on this trade, close everything, and take a break for a while. If it ultimately cannot hold here and weakens again, I will consider adding back the reduced short positions."The whale "Set 10 Big Goals First" reiterates its medium-term view as follows: "In the medium to long term, I still hold a bullish view on BTC, but being bullish in the medium to long term does not conflict with shorting locally. I am taking this short position to profit from the pullback during the upward process, not to view it as a bear market again. If I am wrong, I will admit my mistake above $80,500. I still believe that we will see $100,000 BTC by March next year."

Analysis: Bitcoin soars to an 11-week high, possibly due to the U.S. Treasury increasing its bond buyback

According to Cointelegraph, driven by the U.S. Treasury's expansion of the national debt repurchase scale and improved market liquidity expectations, Bitcoin surged significantly after the U.S. stock market opened on Wednesday, reaching its highest level since June 2.Previously, the U.S. Treasury announced that starting from September 9, it would expand the scale of long-term national debt repurchase operations, increasing the single repurchase limit from $2 billion to at least $4 billion. This move is seen by the market as providing more liquidity support to the long-term bond market, pushing risk assets to rise broadly.As a result of the news, the yield on U.S. 30-year Treasury bonds quickly fell, decreasing about 9 basis points from its nearly 20-year high to 5.19%. The U.S. Treasury stated that the expansion of the repurchase scale aims to meet the persistent investor demand in the long-term national debt market and enhance market liquidity.However, analysts pointed out that this repurchase does not reduce U.S. debt but rather adjusts the maturity structure of the national debt. As the U.S. government debt approaches $40 trillion, the market remains focused on fiscal pressure and the risks of rising interest expenditures.Bitfinex stated that although Bitcoin has rebounded recently, the upside potential is still limited by insufficient liquidity in stablecoins. Data shows that since May, the supply of stablecoins on exchanges has decreased by about $14 billion. Additionally, on-chain data indicates that the stablecoin supply ratio (SSR), which measures the relationship between Bitcoin's market value and the total market value of stablecoins, has been rising recently, from 9.82 on June 30 to 11.69, indicating that the market liquidity environment remains tight.Analysts believe that the improved expectations for U.S. fiscal liquidity may provide short-term support for Bitcoin and risk assets, but the lack of significant inflows of stablecoin funds means that further increases will still require more capital confirmation.

hot_img Ant Group's three independent sectors have successively launched external financing, with the "AI leadership and financial support" strategy taking shape

Ant Group's three independent sectors, Ant International, OceanBase, and Ant Technology, have recently launched intensive external financing. Among them, Ant International completed approximately $1.2 billion in Series A financing in July, OceanBase is seeking about 2 to 3 billion yuan in Series A financing, and Ant Technology is preparing for Pre-IPO financing. All three companies will operate independently starting in March 2024. Sources close to Ant indicate that this round of financing is more of a phased test of the effectiveness of the three companies' independent operations, and they have not yet entered the preparation stage for an IPO.OceanBase's annual revenue has exceeded 1.4 billion yuan, with a year-on-year growth of about 70%; Ant Technology's revenue is expected to be around 5 billion yuan in 2025, with a target of about 8 billion yuan in 2026. Ant International's revenue is projected to be around $3.75 billion in 2025. Since 2023, Ant Group has invested nearly 80 billion yuan in technology, shifting its strategic focus from fintech to AI and data elements, with its financial business humorously referred to internally as the department that "earns living expenses" for the AI business.Currently, Ant's overall valuation is approximately 592 billion yuan, a reduction of more than 70% from 2.1 trillion yuan on the eve of its IPO in 2020. The market believes that a spin-off listing is a more realistic path than an overall listing for the group, but each sector still needs to prove its independent customer acquisition capabilities to open the doors to the capital market.
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